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MWHS is Awarded Tax Credits For Sage Corner

Metro West Housing Solutions

LAKEWOOD, COLO — Metro West Housing Solutions (MWHS), a nonprofit developer and manager of
affordable apartment communities, is pleased to announce the agency was awarded Low Income Housing
Tax Credits (LIHTC) for Sage Corner, a family property planned for 9998 W. Jewell Ave.

Sage Corner, designed by Studio 646 Architecture, will bring 43 units of much-needed affordable housing to
the Kendrick Lake neighborhood of Lakewood. The building will have an understated, contemporary look
that will blend in with its suburban surroundings. Sage Corner will feature stoops in front of first-floor units,
play areas and enclosed trash/bicycle storage. A photovoltaic system will lower utility costs for residents.
Additionally, the project is near a middle school, a recreation center, and a park with a lake and walking
path. MWHS will provide on-site resident services and property management.

The Colorado Housing and Finance Authority (CHFA), the allocating agency of federal and state LIHTC in
Colorado, approved Sage Corner for competitive 9% tax credits, with a reservation of $848,405 in annual
credits.
The LIHTC encourages the development of properties with below-market rents for low-income households
by providing tax credits as an incentive to developers. The award program is a highly competitive process
that requires applicants to outline the merits of their proposed housing developments. It is estimated that
only a quarter of proposals receive tax credits in a given year.

More About Sage Corner
• Project cost: $12 M
• Estimated completion: Fall 2020
• 43 Units: 13 One-Bedroom; 16 Two-Bedroom, 14 Three-Bedroom
• 6 @ 30% AMI; 11 @ 40% AMI; 13 @ 50% AMI, 13 @ 60% AMI
• 9% Credit Awarded: $848,405

“MWHS depends on public-private partnerships like the LIHTC program because it is an efficient and
proven way to bring high quality development to communities. The LIHTC brings millions of dollars to
Colorado’s economy, while helping lower-income individuals and families find housing,” said Tami Fischer,
Executive Director/CEO of MWHS. “We cannot be more grateful for this support.”